Some Credit Card Companies Pull Back
Not everyone will be affected.
Credit Card Issuers Tighten Standards(TheStreet.com) Credit card companies may be getting a bit stingier about the amount of credit they're willing to offer.
Experts say some companies are deciding to require that new potential customers have Fair Isaac(FIC - Cramer's Take - Stockpickr), or FICO, credit scores of around 20 to 40 points higher, for example.
Others are scaling back on the amount of credit they're offering -- say, to $4,000 in cases whereas a line of $5,000 had always been the routine. Some have cut down on mailed advertisements.
Not everyone is feeling such changes. Companies are more likely to tweak their standards when dealing with new customers than they are with existing ones, particularly those who have always paid bills on time. Lenders that have been more conservative all along might have decided to stay the course.
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